Multi-millionaires are keeping their wallets in their pockets for now, leading to a drop in prices in some of Auckland's most exclusive suburbs.

House prices in Auckland's eastern suburbs have taken a sharp dive as more first-home buyers join the neighbourhood alongside the multi-millionaires.

And while the trend is partly due to a fall in the number of luxury homes being sold, data to be released this week is expected to confirm that the Auckland market is on the downhill slide.

Beachside suburbs Mission Bay, Kohimarama and St Heliers as well as super-rich playgrounds Remuera and Parnell are among those

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